Denmark Increases Reporting Obligations
Updated: May 20
As of 10 January 2020 Denmark has increased the reporting obligations for the beneficial owners of Danish companies and funds. Danish companies are obliged to annually review and to continously update the information on their owners, including ultimate beneficial owners. The results of the review must be presented to the management at the ordinary general meeting of the shareholders. In addition, the owners are obliged to submit the relevant information to the Company. The failure to maintain adequate and up-to-date KYC information on the ultimate beneficial owners of the company may ultimately lead to the company being struck-off.